Four banks targeted in Euribor probe
Regulators are focusing on at least four of Europe’s biggest banks as they investigate the attempted manipulation of the region’s benchmark interest rate, suspecting the Barclays traders were the ringleaders of a circle that included Credit Agricole, HSBC, Deutsche Bank and Societe Generale. Evidence of links between traders at all four banks and Barclays’ former euroswaps trader Philippe Moryoussef is under scrutiny, people involved in the process have told the Financial Times.
Pimco’s Bill Gross returns to form
Pimco has doubled the size of its flagship exchange traded fund in less than two months, hitting $2bn in assets as performance of the Total Return Fund ETF outpaces the far larger mutual fund on which it is based.
China to buy US assets via GM pension
The Chinese government has agreed to buy investment stakes currently held by General Motors’ pension plan, in a deal that will make Beijing a sizeable investor in many of the US and Europe’s largest private equity funds.
Global private equity grabs hold of a British lifeline
While global private equity investments slumped by a quarter to $93bn (£60bn) during the first half, Britain bucked the trend and increased its deal-making, according to TheCityUK.
Ex-BP chief sets his sights on Africa
Genel, the oil and gas producer led by Tony Hayward has made its first acquisition in Morocco and the Ivory Coast, The Times has learnt.
The Daily Telegraph
40pc of savers think pensions are free
Hundreds of thousands of savers are in the dark about how much they pay for pensions, research from Friends Life finds. More than 40 per cent believe they are not paying charges on their pensions, with 26 per cent saying their employers pay.
Samsonite buys US backpack brand Luggage-maker Samsonite is to buy US backpack brand High Sierra for $110m (£70m) as it seeks to build a bigger foothold in the $4bn North American casual bag market.
THE WALL STREET JOURNAL
Shake-up continues at GM's Opel unit
General Motors’ troubled European Opel unit yesterday replaced two more top executives, the latest step in a radical shake-up designed to put the auto maker back on the road to profitability.
Vatican urged to step up oversight
A watchdog has called on the Vatican to strengthen measures aimed at preventing money-laundering and terrorist financing, warning that Holy See regulators lacked power to oversee the flow of money through the world’s smallest state.